06/17/2014 - Laserfiche WebLink

Home Browse Search

CONSENT INDIAN RIVER COUNTY MEMORANDUM TO: Joseph Baird,County Administrator FROM: Colleen Peterson,Human Resources Manager t. DATE: June 9, 2014 �✓ SUBJECT: Award of Contracts—RFP 2014034— Basic Life, Voluntary Life, Voluntary Long-term Disability,and Voluntary Dental Insurance Staff seeks approval to award contracts to the successful bidders for RFP 2014034 — Basic Life, Voluntary Life, Voluntary Long-Term Disability, and Voluntary Dental Insurance at the June 17, 2014, regular meeting of the Board of County Commissioners. BACKGROUND: The County provides basic lite insurance for employees in an amount equal to the employee's annual salary. Employees may purchase life insurance, long-term disability insurance, and dental insurance at their own expense. To ensure the County is receiving the best available products at the best possible rates, staff put the following items out for bid: basic life, voluntary life, voluntary long-term disability, and voluntary dental insurance. The RFP was distributed to the marketplace on March 25, 2014, and proposals were due by 2 p.m. on May 2, 2014. One of the requirements of the RFP was that proposals had to match the County's current plan designs. Seven companies submitted proposals for the life insurance, five companies submitted proposals for the voluntary long-term disability insurance, and five companies submitted proposals for the dental insurance. The proposals were reviewed by the County's insurance brokers, L B Bryan and Company (basic life, voluntary life, and voluntary long-term disability insurance) and Gehring Group (voluntary dental insurance). The insurance selection committee consisting of Jason Brown, OMB Director; Beth Martin, Risk Manager; Ann Rankin, Benefits/Payroll Administrator; and Colleen Peterson, Human Resources Manager,met with L B Bryan and Company on May 22 and Gehring Group on May 23, 2014, to discuss their evaluations and rankings. The selection committee requested L B Bryan and Company and Gehring Group to negotiate with the first-ranked companies, Mutual of Omaha (basic life, voluntary life, and voluntary long-term disability insurance) and Ameritas (voluntary dental insurance), to see if they would reduce their rates any further. L B Bryan and Company and Gehring Group were successful in negotiating further cost reductions,but any further dental insurance reductions would be contingent upon the Constitutional Offices joining the County's dental plan. The committee reconvened on June 3, 2014, and based on the revised proposals, recommends the contracts be awarded to Mutual of Omaha and Ameritas. FUNDING: Life Insurance: Mutual of Omaha offers the lowest cost overall for life insurance, which includes basic life for employees,voluntary life for employees and dependents,and voluntary life for retirees. They also agreed to a three-year rate guarantee. 24